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What else can I help you with?
What does default mean in personal finance?
Failure to repay a loan
Can you borrow against an outstanding loan?
No ... because you have no collateral to borrow against. If you are a homeowner, and have built up a fair amount of equity from years of making payments, you could borrow against that. Lenders will require some sort of guarantee that in the event you decide not to repay them, they would have legal recourse to collect the monies owed them.
What is non-recourse lending?
Non-recourse lending is made available as a loan in which the borrower is not personally liable. For instance, in the pre settlement funding realm, a plaintiff involved in a lawsuit can get a non-recourse based cash advance for their lawsuit. In this scenerio, the plaintiff or applicant for the non-recourse advance is only contigent to repay that advance back once the case is settled or won. In the event the case is lost, there is no need to repay that advance as that is the risk taken from the firm handling the advance. These are typically lent when there is high capital expenditures, long loan periods, and uncertain revenue streams from the loan itself. The rates can be much higher due to the risk involved for the lender, obviously.
A default in personal finance is called what?
Failure to repay borrowed money in a timely manner is called.
How can I hire a cosigner for a personal loan?
To hire a cosigner for a personal loan, you need to find someone with good credit and a stable income who is willing to guarantee the loan if you are unable to repay it. This person will need to fill out an application with you and provide their financial information to the lender. It's important to choose a cosigner carefully, as they will be responsible for the loan if you default.
What are the risks associated with taking out a recourse loan for a business investment?
Taking out a recourse loan for a business investment means you are personally liable for repaying the loan, even if the business fails. This can put your personal assets at risk if the business is unable to repay the loan.
Can a bank take your personal property if you can not repay a line of credit?
Yes if it is charged to the bank. Otherwise through legal proceedings.
Is it legal to refinance a home in VA?
Yes. It is legal to refinance a home in VA. The purpose of refinancing is to repay your old loan with a new one. It might be a great idea for someone looking to file bankrupcy.
What describes bankruptcy?
a legal declaration that you are unable to repay your debts
What does default mean in personal finance?
Failure to repay a loan
What does it mean to earn something?
to earn something means if you helped someone or did something someone will u repay u and that means you earned what ever you got in repay.
Can you demand your money if you have a signed written agreement you loaned someone money?
Yes, if you have a signed written agreement that documents the loan, you can demand repayment from the borrower. The agreement serves as legal evidence of the loan terms and the obligation to repay. If the borrower fails to repay, you may have the option to pursue legal action to enforce the agreement and recover your money. However, it's advisable to consult with a legal professional for guidance specific to your situation.
Can you borrow against an outstanding loan?
No ... because you have no collateral to borrow against. If you are a homeowner, and have built up a fair amount of equity from years of making payments, you could borrow against that. Lenders will require some sort of guarantee that in the event you decide not to repay them, they would have legal recourse to collect the monies owed them.
What is non-recourse lending?
Non-recourse lending is made available as a loan in which the borrower is not personally liable. For instance, in the pre settlement funding realm, a plaintiff involved in a lawsuit can get a non-recourse based cash advance for their lawsuit. In this scenerio, the plaintiff or applicant for the non-recourse advance is only contigent to repay that advance back once the case is settled or won. In the event the case is lost, there is no need to repay that advance as that is the risk taken from the firm handling the advance. These are typically lent when there is high capital expenditures, long loan periods, and uncertain revenue streams from the loan itself. The rates can be much higher due to the risk involved for the lender, obviously.
What is a written promise to repay?
A written promise to repay is called a promissory note. It is a legal document where one party (the borrower) agrees to repay a specific amount of money to another party (the lender) according to agreed-upon terms and conditions.
If you receive a personal injury settlement do you have to repay your creditors the total amount owed to them?
yes.
A default in personal finance is called what?
Failure to repay borrowed money in a timely manner is called.
